Benefits Of Chapter 13 Bankruptcy in East Hartford
Chapter 13 is a specialized form of bankruptcy that addresses all forms of debt through a three-to-five year plan. This allows for debt repayment, reduction and elimination based upon your unique circumstances and our thorough understanding of Chapter 13 law and our experience creating Chapter 13 individual plans of reorganization. Chapter 13's wide scope and complete coverage allows us to fully address the needs of individuals and families in East Hartford with a range of financial problems. By enforcing an immediate halt on all collections or foreclosures, Chapter 13 provides families the time needed to restructure and properly prioritize their monthly living expenses and outstanding debt obligations of all kinds.
At the Law Offices of Neil Crane, we've been one of the leading providers of Chapter 13 relief for our East Hartford and Hartford County clients since 1983. We specialize in the creation of customized and comprehensive Chapter 13 bankruptcy relief.
To learn more about the benefits of filing Chapter 13, contact our experienced and knowledgeable Chapter 13 bankruptcy attorneys at the Law Offices of Neil Crane at 203-230-2233 or toll free at 1-888-249-3027.
Chapter 13 Stops Foreclosure Actions and Saves Homes
Foreclosures are state court legal actions brought by banks and factory foreclosure legal offices for the repossession of your home. Homeowners who do not pay up their bank payments in full suffer the loss of their home and the threat of a deficiency judgment which is a bill for the amount of money not recovered by the bank through the foreclosure process.
Chapter 13 is the leading method for homeowners to stop the state court foreclosure and save their home through a plan for repayment. Chapter 13 puts an automatic stay on the foreclosure action by removing it from the lower state court and placing it in the higher jurisdiction of the federal court immediately upon the Chapter 13 filing. The Chapter 13 court essentially "trumps" the state court action and takes jurisdiction over the bank's effort to take your home while providing a three-to-five year time period to fix any defaulted mortgage.
To learn more about saving your home through Chapter 13 bankruptcy, give us a call at 203-230-2233 or toll free at 1-888-249-3027 to schedule a free consultation. Or contact us by filling out our simple Contact Form for a prompt response from an experienced East Hartford Chapter 13 bankruptcy lawyer.
Chapter 13 Prioritization of Debt Elimination and Repayment
All financial problems involve limited resources and overwhelming debt obligations. When faced with financial problems, most people try to pay all creditors, doing their best to "make everyone happy." This is not the proper approach, since no financial problem can be solved by making everyone happy. The key to any reorganization is the prioritization of limited resources toward the most important obligation in combination with debt relief or elimination of the least important priorities like credit card debt and old unsecured obligations of low priority.
Most individuals and families face a myriad of debt pressures on their monthly budget that can often get overwhelming from a number of different sides. Chapter 13 allows for the proper utilization of limited family income to be used for priority debts and not for less important financial obligations in accordance with the needs of your budget and your financial goals.
By legally refocusing income to your most important needs like daily costs and housing, other lower priority payments like old bills, credit cards, collections and even lawsuits or second mortgages are reduced or even eliminated or discharged. Eliminating lower forms of debt in favor of higher priority obligations is essential element of all financial recoveries and its strongest measures appear under Chapter 13 prioritization rules.
Understanding all the nuances of Chapter 13 and the knowledge to craft the best possible plans of reorganization requires the most experienced legal counsel possible. At the Law Offices of Neil Crane, we've filed and successfully completed hundreds of Chapter 13 Plans for our East Hartford and Hartford County clients.
At the Law Offices of Neil Crane, we've helped hundreds of Fairfield County homeowners utilize Chapter 13 to save their homes and secure their financial future.
Call us at 203-230-2233 or toll free at 1-888-249-3027 for a free consultation with an experienced, knowledgeable East Hartford Chapter 13 bankruptcy attorney. Or fill out our online Contact Form to begin the road to financial recovery today.